Arcellx, Inc. (NASDAQ:ACLX) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,570 shares of the company’s stock after purchasing an additional 7,568 shares during the period. Rhumbline Advisers owned 0.11% of Arcellx worth $3,343,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in Arcellx during the 1st quarter worth $51,000. Advisory Alpha LLC acquired a new stake in Arcellx during the 1st quarter worth $209,000. Bleakley Financial Group LLC acquired a new stake in Arcellx during the 1st quarter worth $232,000. Simplicity Wealth LLC acquired a new stake in shares of Arcellx in the 1st quarter worth $232,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Arcellx by 951.9% in the 1st quarter. Advisors Asset Management Inc. now owns 4,197 shares of the company’s stock worth $292,000 after acquiring an additional 3,798 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Truist Financial reiterated a “buy” rating and issued a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $85.00 target price on shares of Arcellx in a report on Monday, July 22nd. Finally, Piper Sandler started coverage on shares of Arcellx in a report on Friday, May 31st. They set an “overweight” rating and a $70.00 target price for the company. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $78.00.

Insider Buying and Selling at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 12,877 shares of Arcellx stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $371,335.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Michelle Gilson sold 12,877 shares of Arcellx stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the sale, the chief financial officer now owns 6,915 shares in the company, valued at $371,335.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Heery sold 20,000 shares of Arcellx stock in a transaction on Monday, July 1st. The stock was sold at an average price of $55.39, for a total transaction of $1,107,800.00. Following the completion of the sale, the insider now owns 9,278 shares of the company’s stock, valued at approximately $513,908.42. The disclosure for this sale can be found here. Insiders have sold a total of 129,505 shares of company stock valued at $8,351,337 over the last ninety days. Corporate insiders own 6.24% of the company’s stock.

Arcellx Stock Performance

ACLX opened at $77.99 on Wednesday. The company’s 50 day simple moving average is $64.88 and its 200 day simple moving average is $60.32. Arcellx, Inc. has a 1 year low of $30.88 and a 1 year high of $79.94. The stock has a market capitalization of $4.17 billion, a PE ratio of -75.72 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. Arcellx’s quarterly revenue was up 91.5% compared to the same quarter last year. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Arcellx Company Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).